Markets

South Korean won rises early, inspection plan caps gains

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The finance ministry said the inspection was aimed at checking whether banks were abiding by existing regulations, but it could lead to reductions in ceilings on foreign exchange derivatives trade, such as non-deliverable forwards.

The won rose as high as 1,080.4 per dollar, its strongest since Sept. 8, 2008, from Wednesday's domestic close of 1,082.2.

Copyright Reuters, 2011